CORPORATE RESOLUTION Meaning and
Definition
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A corporate resolution is a formal decision or action undertaken by a corporation, typically approved by its board of directors or shareholders. It serves as a legal documentation of the corporation's intention to carry out a specific action or set of actions and can encompass a wide range of matters concerning the corporation's business activities.
Typically written, a corporate resolution outlines the details, objectives, and responsibilities associated with the decision, providing a clear and documented record for reference and accountability. It can be used to establish policies, appoint officers or directors, authorize financial transactions, approve contracts or agreements, merge or dissolve the corporation, or make other significant corporate decisions.
Corporate resolutions are legally binding and carry considerable weight within the corporation and in legal proceedings. They ensure that decisions are made collectively by the appropriate individuals with the authority to act on behalf of the corporation. Additionally, corporate resolutions facilitate effective communication within the organization, providing all stakeholders with a clear understanding of the corporation's intentions and legal obligations.
Such resolutions often require majority or unanimous consent, depending on the corporate bylaws or applicable laws governing the corporation. They can be recorded in meeting minutes, signed by the relevant individuals, and kept as part of the corporation's official records.
Overall, a corporate resolution is a formal mechanism by which a corporation makes decisions, establishes policies, and carries out various actions, ensuring transparency, accountability, and legal compliance in its business operations.
Common Misspellings for CORPORATE RESOLUTION
- xorporate resolution
- vorporate resolution
- forporate resolution
- dorporate resolution
- cirporate resolution
- ckrporate resolution
- clrporate resolution
- cprporate resolution
- c0rporate resolution
- c9rporate resolution
- coeporate resolution
- codporate resolution
- cofporate resolution
- cotporate resolution
- co5porate resolution
- co4porate resolution
- coroorate resolution
- corlorate resolution
- cor-orate resolution
- cor0orate resolution
Etymology of CORPORATE RESOLUTION
The word "corporate resolution" is a phrase that consists of two parts: "corporate" and "resolution".
The word "corporate" is derived from the Latin word "corporatus", which means "formed into a body". It is related to the Latin word "corpus", meaning "body". In English, "corporate" refers to something related to a corporation or a group of people united for a common purpose.
The word "resolution" comes from the Middle English word "resolucioun" and the Latin word "resolutionem". Both words are derived from the Latin verb "resolvere", which means "to loosen, release, or disperse". In English, "resolution" refers to a formal decision or determination made by an organization or a binding decision made to address a particular issue.
